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UBS CEO Sergio Ermotti's total compensation rose to CHF 14.9 million last year, comprising a fixed salary of CHF 2.8 million and variable components of CHF 12.1 million. Despite this increase, he remains below Novartis CEO Vas Narasimhan, who earned CHF 19.2 million. UBS Chairman Colm Kelleher defended Ermotti's pay, citing the challenges he faced, while acknowledging public discontent over high executive salaries, especially following a recent motion to cap compensation in the banking sector at CHF 5 million.
UBS CEO Sergio Ermotti's salary rose to CHF 14.9 million last year, a 3.7% increase from CHF 14.4 million for nine months in the previous year. While he remains one of the highest-paid executives, he is outpaced by Novartis CEO Vas Narasimhan at CHF 19.2 million. UBS Chairman Colm Kelleher defended Ermotti's compensation, citing the challenges he faced in his role.
UBS CEO Sergio Ermotti's total compensation for the past year reached 14.9 million francs, comprising a fixed salary of 2.8 million francs and variable components of 12.1 million francs. While his pay has sparked debate, it remains lower than Novartis CEO Vas Narasimhan's 19.2 million francs. UBS Chairman Colm Kelleher defended Ermotti's salary, citing the challenging circumstances he faced, but acknowledged underestimating public reaction to such high compensation levels.
UBS CEO Sergio Ermotti received a staggering salary of 14.9 million francs for 2024, as revealed in the bank's annual report. This follows last year's remuneration of 14.4 million francs for just nine months of work, sparking renewed criticism over excessive executive pay in Switzerland. The Swiss parliament is considering a salary cap for bankers, reflecting growing discontent with high salaries in the financial sector.
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ubs ceo salary increase sparks debate amid calls for compensation cap
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CHE
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07:34 17.03.2025
ubs ceo salary rises slightly amid ongoing public scrutiny
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07:10 17.03.2025
ubs ceo salary sparks debate amid calls for compensation cap
Swiss Franc
Novartis AG
Sunrise Resources PLC
CHE
Sergio Ermotti
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07:10 17.03.2025
ubs ceo sergio ermotti receives 14.9 million francs salary for 2024
Swiss Franc
Novartis AG
Sunrise Resources PLC
Credit Suisse Strategic Income I
CHE
Marc Chesney
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07:00 17.03.2025
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